Global X Japan Co. Ltd. Has $4.77 Million Position in Adobe Inc. (NASDAQ:ADBE)

Global X Japan Co. Ltd. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 10,728 shares of the software company’s stock after purchasing an additional 77 shares during the quarter. Adobe comprises 0.6% of Global X Japan Co. Ltd.’s holdings, making the stock its 27th biggest position. Global X Japan Co. Ltd.’s holdings in Adobe were worth $4,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Adobe during the third quarter valued at about $26,000. Piscataqua Savings Bank boosted its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC increased its position in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the period. Finally, Briaud Financial Planning Inc acquired a new position in shares of Adobe during the third quarter worth approximately $36,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. Oppenheimer lowered their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus cut their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Price Performance

NASDAQ:ADBE opened at $435.40 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $189.53 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $628.07. The firm’s 50-day simple moving average is $457.14 and its 200 day simple moving average is $500.93.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $3.52 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.